TURKISH AIRLINES agreed to lease one used A330-300 (TBA) from May 2024 from CDB Aviation; deal also includes six new 737-8s for delivery in 2025-2026 for AJET, increasing the total number of aircraft on lease from CDB to 17.
AIRCASTLE had $83.3m net income on $855m revenues for year ended Feb 29 vs $62.8m on $796m a year ago and ended fiscal year with 243 owned/nine managed aircraft (for Mizuho Leasing) vs 239/nine. It has $3b in liquidity.
AMERICAN AIRLINES had $312m net loss on record $12.6b revenues in 1Q24 vs $10m profit on $12.2b in 1Q23. It reduced total debt by nearly $950m and has cut >$12b of its goal of reducing total debt by $15b by the end of 2025.
ARCHER signed multi-hundred-million dollar framework agreement to accelerate commercial air taxi operations across the UAE, to launch as soon as 2025 with Midnight eVTOL, including in-country manufacturing, operations and training.
SOUTHWEST AIRLINES had $231m net loss on record $6.3b revenues in 1Q24 vs $159m loss on $5.7b in 1Q23; it has $11.5b in total liquidity. It says based on Boeing delivery delays, it now projects to take 20 737-8s in 2024 instead of 46, reducing planned retirements to 35 (31 -700s/four -800s) from 49 (45 -700s/four -800s), ending year with 802 aircraft.
Southwest's expected deliveries of Boeing 737-8s in 2024 have plummeted by 59 aircraft as it faces cost pressure from higher labor and maintenance expenses.
American now expects to take delivery of 22 new mainline aircraft in 2024, down from its prior estimates of 29—or four fewer MAXs and three fewer 787s.
Airbus is raising production of its A350 widebody further to 12 aircraft per month despite the current supply chain constraints that show no signs of easing.
The FAA’s final rule mandating SMS for several types of organizations, is slated for publication April 26 and becomes effective 30 days later, on May 26.
Wright Electric has begun building a test cell to characterize the performance of its megawatt-scale electric propulsion systems for large commercial aircraft.
The carrier’s liquidity position improved through Q1 to $949 million, which includes the cash settlement for the Wideroe acquisition completed in January.
Breeze is launching four routes to vacation destination Myrtle Beach as part of a series of new services set to be added or resumed for the summer season.
